Sanai Health Gp (1889) announced the company and the placing agent entered into the placing agreement, to place shares with HKD 0.23 per shares to not less than six placees up to 306,722,250 placing shares, approximately 9.09% of the issued share capital. The placing price represents a discount of 16.4% on closing price of HKD 0.275, and a discount of 19.3% on the closing price of last five consecutive trading days of HKD 0.285.

The net proceeds from the placing of approximately HKD 68.2 million, and will be used for the purpose of general working capital. The company is of the view that the placing will enlarge the shareholder base and the capital base of the company. Upon completion, Chairman Chen Chengqing's shareholding will be reduced from 27.28% to 24.8%.